5 Top KPIs for a Successful Hourly Talent Acquisition Program

Hourly hiring is fast-paced. In order to implement and maintain a successful hourly talent acquisition program, continuously tracking & monitoring the right key performance indicators (KPIs) is essential. Here are five essential KPIs to monitor in real-time:

1. Time-to-Fill: This KPI measures the average time it takes to fill an hourly position from the moment it is opened until the candidate is hired. Tracking time-to-fill helps identify bottlenecks and inefficiencies in the hiring process, allowing you to streamline workflows, reduce vacancies, and ensure timely staffing.
2. Cost per Hire: The average cost incurred to hire an hourly employee is $2,500. It includes expenses such as job advertisements, background checks, drug screenings, and onboarding costs. Monitoring cost per hire enables you to optimize your recruitment budget, identify cost-saving opportunities, and make informed decisions about resource allocation.
3. Quality of Hire: Assessing the quality of hire is crucial to determine the effectiveness of your talent acquisition efforts. This KPI evaluates how well hourly employees perform in their roles, their retention rates, and their contributions to the organization. By tracking quality of hire, you can refine your screening and selection processes, and build a high-performing hourly workforce.
4. Offer Acceptance Rate: Monitoring offer acceptance rate provides insights into the attractiveness of your job offers, the competitiveness of your compensation and benefits packages, and the effectiveness of your candidate experience. Improving offer acceptance rate ensures you are attracting and securing top talent in a competitive job market.
5. Turnover Rate: Tracking turnover rate is crucial as it provides valuable insights into the stability and retention of the hourly workforce. By monitoring turnover rate, you can identify underlying issues, develop targeted retention strategies, and implement initiatives to reduce turnover and retain valuable hourly talent.

By regularly monitoring these five KPIs in real-time, you can gain valuable insights into the efficiency, effectiveness, and success of your hourly talent acquisition program. These metrics will enable you to make data-driven decisions, refine your strategies, and ultimately build a strong and sustainable hourly workforce.